Securities and Exchange Commission v. Edwards

The case is: https://supreme.justia.com/cases/federal/us/540/389/

In complete sentences respond to the following prompts:

• Summarize the facts of the case;
• Identify the parties and explain each party's position;
• Outline the case's procedural history including any appeals;
• What is the legal issue in question in this case?
• How did the court rule on the legal issue of this case?
• What facts did the court find to be most important in making its decision?
• Respond to the following questions:
• Why was the Supreme Court unwilling to exclude contracts guaranteeing a fixed rate of return from the definition of security?
• Are mortgage notes securities when they are sold with a package of management services and a promise to repurchase the notes in the event of default?
• Do you agree or disagree with the court's decision? If you disagree, provide an explanation of your reasoning.